Bruce Bent II- Inventor of the first money market fund

by WilliamV .

A money market fund is an investment focusing on helping shareholders earn interest while still maintaining a 1 dollar per share net asset value (NAV). The portfolio of a money market fund comprises of short-term protections representing high-quality, monetary instruments, and liquid debt. Investors can acquire shares of money market funds via banks, mutual funds, and brokerage companies. The primary motive of a money market fund is to give investors a secure place to invest easily available, money-equivalent assets.
According to Wikipedia, apart from being highly liquid, money market funds are useful to investors because they have no loads. Besides, other money market funds supply their investors with tax- advantaged gains. This is through investing in municipal protections that are tax-exempt at the state, and/or federal level. Moreover, money market fund might also hold short –term U.S. Treasury protections. These protections include corporate commercial paper, T-bills, and certificates of deposit (CDs).
Money market fund is useful for clients who require the investment to be very liquid and have an investment objective of a short time horizon. Also, it is convenient for customers who have a low toleration for volatility or want to diversify with a more conservative investment.
Bruce Bent II is the President and Vice-chairman of Double Rock Corporation. Double Rock Corporation is the major financial technology firm. The organization provides the best innovative cash-related, and cash management solutions to banks, retail markets, and broker- dealers. Additionally, Bruce is the senior executive to every Double rock’s branch and affiliate. These include Island Intellectual Property LLC, Access Control Advantage, Inc., and LIDs Capital LLC. Also, other affiliates and branches include Landing Rock Group LLC, and Intrasweep LLC.
Bruce Bent II studied and graduated with a Bachelor of Science degree in Philosophy from the Northeastern University. Currently, Bruce is an associate of the Young Presidents’ Organization (a peer network joining about 10,000 young business leaders worldwide). Besides, Bent was an associate of the New York-based Entrepreneur’s Organization. Also, he served on the President’s Advisory Council of Scenic Hudson (an environmental firm, and land trust dedicated to preserving the Hudson River, and its riverfront as a natural, and public resource).

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